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Originally Posted by kutulu
Yep. I've been saying that for a long time. The govt is always there to cover them if their payouts from a disaster are so large that it would destroy them. The govt doesn't get shit in return for that.
Call me a socialist but I think it's past the time for the govt to become the insurance provider. Either that or they need to regulate the industry the way that utilities are regulated. We've come to a point in time where insurance (including health care), like utilities is a basic need for all people.
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Utilities aren't regulated in most states anymore. Hence Enron was able to do what they were able to do.
I thought that insurance was a highly regulated business.-
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